Albania: OSHEE needs assistance for post-pandemic recovery

21. May 2020. / SEE Energy News

The electricity distribution system operator OSHEE will need an assistance in the post-pandemic stage of economic recovery. This is why the Albanian Government has called on the European Bank for Reconstruction and Development (EBRD) to provide its assistance.

The report of the Energy Community Secretariat states that international institutions have made large sums of money available as part of the support package, and Albania is no exception. The EBRD has provided a two-year SME support package for the countries in which it operates. Montenegro requested a short-term loan of 50 million euros, while Serbia requested assistance related with a project to the decarbonization of the energy sector. The Albanian Government has asked the EBRD to review OSHEE’s financial balance sheet.

The support of local financial partner institutions is available for most of the needs of small and medium-sized enterprises, and potentially to cover part of renewable investments. The EBRD recently paid 50 million euros to power utility KESH to strengthen its balance sheet. As for payments to KESH, it should be noted that the public company used a 218 million euros loan to restructure the debt.

The Energy Community Secretariat also analyzed how distribution companies faced the situation caused by the pandemic and stressed that some measures had been taken in Albania to extend the validity of licenses. At the request of the operator, all discussions regarding electricity prices were suspended and electricity bills were calculated according to last year’s consumption in cases where it was not possible to read the meters.